Saturday, May 14, 2011

House prices to be controlled ‘if necessary’ - TAX

House prices to be controlled ‘if necessary’ -

PETALING JAYA: The Government is monitoring the spike in house prices and will not hesitate to implement measures to keep them under control, said Housing and Local Government Minister Datuk Chor Chee Heung.

“Our ministry and Bank Negara are constantly monitoring the situation.

“Of course, if it goes beyond a certain point where measures have to be instituted by the Government, then the Government will do it.

“But it may be premature to do it now. Various measures can be implemented like what has been put in place by other countries.
These include not offering loans for the purchase of a third or fourth house or bringing back the real property gains tax (RPGT),” he said yesterday.

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